Citigroup to slash 100 jobs in India
US-based financial services firm Citigroup is planning to eliminate 100 jobs in India as part of its global restructuring exercise.
The headcount reduction will be across all of the bank's businesses.
Citigroup said it continuously reviews its internal processes and organizational structure to right size the organization for efficient growth.
Citi India, which employs about 7,000 people in the country, hired more than 1,500 professionals in India in 2011.
Citi India's operations include corporate and investment banking, consumer banking, private banking services.
In December 2011, Citigroup has revealed its plans to lay off 4,500 jobs worldwide in the coming months to reduce costs amid slumping revenues and unprecedented market conditions.
Citigroup has reported a net income of $1.17bn, down 11%, for the fourth quarter of 2011, compared to $1.31bn for the same period in 2010.
Related Insight
Suppliers Directory
Wealth & Assets Management Asset Management Hedge Funds Private Equity Mutual Funds
Intermediaries Prime Brokerages Custody & Clearing ECN & Exchanges
Technology Banking Technology Security Tech Outsourcing & BPO
Policies & Regulatory Compliance Risk Management
Commercial Banking Intelligence
Allianz SE (Allianz) is one of the leading global financial services providers, offering a range of banking, asset management and insurance services. The company was formerly known as Allianz AG. Allianz is the parent company for the Allianz Group of companies. The company is one of leading insurance providers in the property and causality, and life insurance in the global market. Allianz is one of the major players in the German insurance market. The company, combined with its subsidiaries, serves over 75 million customers in more than 70 countries across Europe, Asia-Pacific, America and Africa. The company's banking operations are conducted through Dresdner Bank AG and its subsidiaries. Global Markets Direct’s Allianz SE - Financial and Strategic Analysis Review is an in-depth business, strategic and financial analysis of Allianz SE. The report provides a comprehensive insight into the company, including business structure and operations, executive biographies and key competitors. The hallmark of the report is the detailed strategic analysis of the company. This highlights its strengths and weaknesses and the opportunities and threats it faces going forward. Buy online from $125
Comments may be moderated for spam, obscenities or defamation.